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First Industrial Realty moves ahead with strategic plans for the region.

First Industrial Realty Trust, Inc. announced that it has acquired the 230,274 square-foot Jevic Transportation Facility in Delanco, N.J. and the 105,450 s/f 820 East Gate Drive in Mount Laurel, N.J. T

The Jevic Transportation Facility is a sale leaseback property. 820 East Gate is ideal for either a functional regional or corporate headquarters with 18,000 s/f of finished office space and 87,000 s/f of warehouse.

The warehouse space includes 24' clear height, eight tailgates with levelers, wet sprinkler system, ample parking, new roof and room for trailer storage.

The Jevic Facility is within five miles of 1-95 and 1-295 immediately adjacent to the NJ Route 130, all major north and south routes for trucking. 820 East Drive is located within five miles of 1-295 and interchange number four of the New Jersey Turnpike. They are just 10 miles from downtown Philadelphia and accessible to both Southern and Central New Jersey.

"Both of these acquisitions are ideal fits for with our existing portfolio and consistent with our strategic plan for the Philadelphia region," said Pete Corcoran, regional director, First Industrial.

This marks the second and third acquisitions for the Philadelphia region in 2007. A total of 890,278 square feet added within the past 30 days.

First Industrial currently owns and manages more than four and a half million square feet of space in the Philadelphia region and more than 100 million square feet nationally.

First Industrial thank Scott Mertz, SIOR, vice president of NAI-Mertz for help with this transaction.
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Title Annotation:NEW JERSEY
Comment:First Industrial Realty moves ahead with strategic plans for the region.(NEW JERSEY)
Publication:Real Estate Weekly
Date:Mar 7, 2007
Previous Article:Hanson under starters orders at GHP's Atrium property.
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